Suspension Period Imposed By IBBI Disciplinary Committee On Insolvency Professional Reduced For Being Disproportionate: Delhi High Court

In a significant ruling concerning disciplinary actions under the Insolvency and Bankruptcy Code, 2016, the Delhi High Court has reduced the two-year suspension imposed on a Resolution Professional (RP) to the period already undergone, citing reliance on incorrect data and failure to consider relevant material by the Disciplinary Committee (DC) of the Insolvency and Bankruptcy Board of India (IBBI). The Division Bench of Chief Justice Devendra Kumar Upadhyaya and Justice…